{"id":487299,"date":"2022-03-31T17:00:43","date_gmt":"2022-03-31T17:00:43","guid":{"rendered":"https:\/\/wncen.com\/?p=487299"},"modified":"2024-06-11T14:18:50","modified_gmt":"2024-06-11T14:18:50","slug":"cardano-turns-bullish-in-the-short-term-but-is-that-all","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-turns-bullish-in-the-short-term-but-is-that-all\/","title":{"rendered":"Cardano Turns Bullish In The Short-Term, But Is That All?"},"content":{"rendered":"

Cardano (ADA) has seen the bulls finally reclaim control after a long stretch in the bear territory. This is a welcome change for the digital asset which remains one of the largest cryptocurrencies and widely used networks. However, after properly cementing its position in this bullish level for the short term, the question still remains on how the digital asset is looking towards the long term.<\/p>\n

ADA Bullish For The Short Term<\/h2>\n

The price of Cardano (ADA) successfully broke above $1.2, which puts it on a bullish path for the short term. The indicators for this include the fact that the digital asset is now trading above the 30 and 50-day moving averages. A very important point for the asset if it is to maintain its current bullish path. This, in turn, has seen investor sentiment start to turn positive for the first time in months.<\/p>\n

Related Reading |\u00a0Broader Market Celebrates Bitcoin Breakout, But What About Perp Traders?<\/a><\/strong><\/em><\/p>\n

For the first time since the downtrend began, sell pressure has eased off significantly for Cardano investors. Although the majority of indicators still point towards sell, the gap has become much smaller. This means that buyers are beginning to challenge the sellers in terms of volume. If this trend continues in the vein, then ADA\u2019s recovery is expected to continue as more investors turn towards selling.<\/p>\n

\"Cardano<\/p>\n

ADA price reaches $1.2 | Source: ADAUSD on TradingView.com<\/a><\/pre>\n

This is however only evident in the short term for the digital asset. It is understable though given that the recovery remains in its early stages. With less than a week marked on the current trend, the digital asset looks the strongest on a two-week scale.<\/p>\n

But What About The Long-Term?<\/h2>\n

In the long term, Cardano (ADA) is not faring as well. This can be attributed to the fact that the rally is still in its early stages as mentioned above but given that the digital asset has remained in a downtrend for the longest time. It is evident in how the cryptocurrency is faring on the 100 and 200-day moving averages.<\/p>\n

Related Reading |\u00a0Shiba Inu Kicks Off Metaverse Project; SHIB Rallies 14% In The Last 7 Days<\/a><\/strong><\/em><\/p>\n

Despite the recent surge, ADA has not been able to trade above these points. It will have to successfully break above $1.5 for it to turn bullish in the long-term and the indicators are not looking good in this regard.<\/p>\n

Presently, ADA is trading at $1.22. It has been on a steady uptrend in the early hours of Thursday. This puts the next significant resistance point at $1.273. A long way from $1.5 but an attainable goal if the momentum continues to push up.<\/p>\n

Featured image from Medium, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"

Cardano (ADA) has seen the bulls finally reclaim control after a long stretch in the bear territory. This is a welcome change for the digital asset which remains one of the largest cryptocurrencies and widely used networks. However, after properly cementing its position in this bullish level for the short term, the question still remains on how the digital asset is looking towards the long term. ADA Bullish For The Short Term The price of Cardano (ADA) successfully broke above $1.2, which puts it on a bullish path for the short term. The indicators for this include the fact that the digital asset is now trading above the 30 and 50-day moving averages. A very important point for the asset if it is to maintain its current bullish path. This, in turn, has seen investor sentiment start to turn positive for the first time in months. Related Reading |\u00a0Broader Market Celebrates Bitcoin Breakout, But What About Perp Traders? For the first time since the downtrend began, sell pressure has eased off significantly for Cardano investors. Although the majority of indicators still point towards sell, the gap has become much smaller. This means that buyers are beginning to challenge the sellers in terms of volume. If this trend continues in the vein, then ADA\u2019s recovery is expected to continue as more investors turn towards selling. ADA price reaches $1.2 | Source: ADAUSD on TradingView.com This is however only evident in the short term for the digital asset. It is understable though given that the recovery remains in its early stages. With less than a week marked on the current trend, the digital asset looks the strongest on a two-week scale. But What About The Long-Term? In the long term, Cardano (ADA) is not faring as well. This can be attributed to the fact that the rally is still in its early stages as mentioned above but given that the digital asset has remained in a downtrend for the longest time. It is evident in how the cryptocurrency is faring on the 100 and 200-day moving averages. Related Reading |\u00a0Shiba Inu Kicks Off Metaverse Project; SHIB Rallies 14% In The Last 7 Days Despite the recent surge, ADA has not been able to trade above these points. It will have to successfully break above $1.5 for it to turn bullish in the long-term and the indicators are not looking good in this regard. Presently, ADA is trading at $1.22. It has been on a steady uptrend in the early hours of Thursday. This puts the next significant resistance point at $1.273. A long way from $1.5 but an attainable goal if the momentum continues to push up. Featured image from Medium, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":487300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,84005,14643,12332],"class_list":["post-487299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-price","tag-adausd","tag-cardano"],"acf":[],"yoast_head":"\nCardano Turns Bullish In The Short-Term, But Is That All?<\/title>\n<meta name=\"description\" content=\"Cardano (ADA) has seen the bulls finally reclaim control after a long stretch in the bear territory. 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Turns Bullish In The Short-Term, But Is That All?","url":"http:\/\/wncen.com\/news\/cardano\/cardano-turns-bullish-in-the-short-term-but-is-that-all\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/cardano-turns-bullish-in-the-short-term-but-is-that-all\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/cardano.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/cardano.jpeg?fit=1200%2C675"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada price","adausd","cardano"],"dateCreated":"2022-03-31T17:00:43Z","datePublished":"2022-03-31T17:00:43Z","dateModified":"2024-06-11T14:18:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Turns Bullish In The Short-Term, But Is That All?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-turns-bullish-in-the-short-term-but-is-that-all\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/cardano-turns-bullish-in-the-short-term-but-is-that-all\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/cardano.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/cardano.jpeg?fit=1200%2C675\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada price\",\"adausd\",\"cardano\"],\"dateCreated\":\"2022-03-31T17:00:43Z\",\"datePublished\":\"2022-03-31T17:00:43Z\",\"dateModified\":\"2024-06-11T14:18:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/cardano.jpeg?fit=1200%2C675","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/487299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=487299"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/487299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/487300"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=487299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=487299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=487299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}